Kodiak Sciences shares are trading lower after the company released topline results from three phase 3 studies of tarcocimab tedromer for neovascular age-related macular degeneration & diabetic macular edema.
Portfolio Pulse from Benzinga Newsdesk
Kodiak Sciences has released topline results from three phase 3 studies of tarcocimab tedromer for neovascular age-related macular degeneration & diabetic macular edema. The DAYLIGHT study met its primary endpoint, but the GLEAM & GLIMMER studies did not. This has led to a decrease in the company's share price.
July 24, 2023 | 10:23 am
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Kodiak Sciences' shares are trading lower after mixed results from their phase 3 studies. While the DAYLIGHT study was successful, the GLEAM & GLIMMER studies did not meet their primary endpoints.
The company's share price is likely to be negatively impacted due to the failure of two out of three phase 3 studies. This could lead to doubts about the company's ability to successfully develop and market the drug, which could in turn affect investor confidence and the company's future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100